Fitch Ratings assigned a viability rating of"bbb+" to CitibankTaiwan Ltd. and affirmed its long- and short-term issuer defaultratings at A and F1, respectively.
The rating agency said Oct. 7 that it affirmed the bank'snational long- and short-term ratings at AA+(twn) and F1+(twn). The bank'ssupport rating was affirmed at 1.
The outlook is stable.
The ratings take into account the extremely high probabilityof support to the bank from its parent Citibank NA. The bank's viability rating reflects aniche, sustainable and profitable franchise with a sound risk buffer relativeto its risk profile, Fitch said.
Fitch could raise the viability rating if the bank'sfranchise strengthens and becomes comparable to that of better-ratedcompetitors. An unexpected deterioration in capitalization, excessive growth orrisk-taking could result in a downgrade.